United Parcel Service Inc. is planning a $10 million
modernization project for a regional transportation hub in Indianapolis and is
seeking tax incentives to help make it happen.
The shipping and logistics company said the project will ensure the viability of the West 81st Street facility on the northwest side of Indianapolis and allow it to retain 750 workers earning an average wage of $30.79 an hour. No additional jobs will be created by the project.
The shipping and logistics company said the project will ensure the viability of the West 81st Street facility on the northwest side of Indianapolis and allow it to retain 750 workers earning an average wage of $30.79 an hour. No additional jobs will be created by the project.
UPS is requesting a five-year tax abatement from the city that
will save the company an estimated $276,404 to help offset the cost of the
investment.
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The abatement request is to be heard Wednesday by the Metropolitan Development Commission.
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The abatement request is to be heard Wednesday by the Metropolitan Development Commission.
The requested abatement amounts to a 64-percent property tax
savings over five years. UPS would still pay $152,000 in taxes on the new
logistics and distribution equipment during the abatement period.
After the tax abatement expires, UPS would pay an estimated additional $64,380 in personal property taxes annually related to the new equipment.
After the tax abatement expires, UPS would pay an estimated additional $64,380 in personal property taxes annually related to the new equipment.
